To Ministers: A Few Tips For a Real Support Package
Dear Ministers,
Guess what, it’s already week 2, day 3! ECO knows that time flies when you’re having fun; but let’s stay focused. You will be faced with one of your biggest challenges since COP21 in the coming days: making sure the Paris Agreement will benefit from a fair, balanced, and complete Rulebook that will enable us to limit global warming to 1.5°C. Let us be clear: without consensus on the overall support package, a robust Rulebook and an ambition mechanism cannot be agreed upon. Failure to resolve the sticky financial issues will undermine trust between Parties, the eventual implementation of the Paris Agreement, and put at risk more ambitious global climate action for the years to come.
To help you navigate the many challenges related to finance, here are some final tips:
- Be Predictable! Article 9.5 is key to improving predictability of future financial support. A full operationalization would require qualitative and quantitative data to be provided every two years, submitted to a public registry and then synthesized, in order to inform the CMA and the global stocktake. Article 9.5 can give an indication of how provided and mobilized support aims to make financial flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development — but must not be confused with the obligations of developed countries in providing adequate, sustainable and predictable support.
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